Q & A

Southwest State Bank was established in 1911. It is located in Sentinel, OK. Southwest State Bank has been operated by the same family since 1956. How amazing it is for a bank not to have been bought or sold in over 56 years! We are a stable, well-established entity. Our executives and officers are well-educated and well-respected in the banking industry. We are insured by the FDIC.

Our products are great! Our Ultimate Rewards Rewards Checking and Super Savings accounts offer high interest rates and low or no fees*. We also offer many great services including VISA® CheckCards, Overdraft Privilege, and Bill Pay. We offer the convenience of banking anywhere you have internet access 24/7. When you call our Customer Service department, you will talk directly to a personal representative to give you quick responses to your questions and concerns – no endless menus to try to negotiate to get an answer! We have state-of-the-art computers and technology to manage and protect your account. * Please refer to ‘Terms and Conditions’ of account type.

We offer a totally online service to manage your accounts , convenient lobby and drive-thru hours and personal service to help you conduct your banking business. You can manage your account(s) from anywhere in the world through the Internet. Your money is accessible from virtually any ATM world-wide. We offer free Bill Pay for your convenience along with Overdraft Privilege allowing you to overdraw your account*. There is a convenient link on our homepage to our internet division, Evantage Bank®, where you can open high-yield interest-bearing checking account as well as a FREE checking account. This allows you the convenience of opening new accounts online without having to wait on signatures, faxes, or the U.S. Mail. It can all be done electronically. *Please refer to the Terms and Conditions of account type.

No, we do not sell or release any of your personal information to anyone except as permitted by law. For instance, if you order checks, we will need to give your name and address to the check printing company. Or we may need to release your personal information for legal reasons like tax liens, garnishments, or subpoenas. If you have questions, please refer to our privacy policy or call Customer Service.

Most applications are approved or denied during the original application process as long as your identity can be confirmed. Once your application is approved and your account is funded, you will be assigned an account number. From this point on, your account is open. The entire process usually takes 15-30 minutes. Most applications are approved or denied during the original application process as long as your identity can be confirmed through a series of questions that only you should know. Your application may be delayed if more information is needed for approval. Once your application is approved and your account is funded, you will be assigned an account number. From this point on, your account is open and accessible. The entire process usually takes 1-5 business days depending on how you fund your account. If you register your account online, you can access many convenient services to manage your account including Bill Pay, Bank-to-Bank Transfers, In-House Transfers, email notifications and electronic statements. From this point on your account is open and accessible.

The most common ways to fund a new account are to make a cash deposit, write a check, or transfer money from an existing Southwest State Bank account. You can also use a wire transfer* or mail in a check to fund your new account. After the account is funded you will receive an account number and temporary checks and deposit slips until your check order is filled. *Money Wiring Instructions form is located under Other Services.

You can make deposits by direct deposit* from your employer or regular source income. You can deliver deposits to the bank lobby or drive-thru window, mail checks or send wire transfers*. You can also transfer money from another account at another financial institution (bank, savings and loan, credit union, brokerage firm, etc.) using our free Bank-to-Bank Transfer service, or you can transfer money between Southwest State Bank accounts, all with a click of the mouse. *Direct Deposit and Money Wiring Instructions forms are available under Other Services.

Direct Deposits, Wire Transfers, and In-House Transfers show up and are available to you the day we receive them. Of course, we have no control over the mail, but deposits that are mailed to us are deposited into your account the day we receive them. It is our policy to make those funds available by the next day after the deposit is made. Our mail arrives at 8:30 am CST each business day. Sometimes a hold is placed on a deposit containing checks until the checks clear. In this case, the deposit is reflected in your “Current Balance” until the hold is released. Then the deposit is reflected in your “Available Balance” for your immediate use.

You can check your balance anytime by logging into your account through our website at www.southweststatebank.com, by viewing your balance at an ATM, or by calling Customer Service during business hours.

When you log into your account, a secure connection is established. The back button is disabled for the protection of your information. This also prevents any information previously submitted from being sent again accidentally.

You have the right to ‘Opt In’ to this service at any time once you qualify. If you ‘Opt In’ when opening a new account, after a 30-day waiting period, the service will be activated. If at any time following the 30-day waiting period you choose to ‘Opt In’, simply log into your account online, click the ‘Overdraft Opt In/Out’ button in the menu bar, and fill out and submit the online form. Or call Customer Service and tell them you want this service.

We will notify you by mail or email if your account is overdrawn. You can look at your account activity through our website to see what debits have cleared. We offer Overdraft Privilege* to all eligible accounts. There is a $25.00 overdraft fee per item with a maximum of $200.00 per day. When you make mistakes or write a check for more money than you have in your account, we have a discretionary overdraft service that may cover the overdraft until you can make a deposit. *This is a discretionary service. Some restrictions apply. Please read the Overdraft Privilege Policy to clarify any questions you may have.

If you made deposits totaling at least $500 during the last 30 days, you qualify for Overdraft Privilege. You must continually qualify for Overdraft Privilege by making deposits of at least $500 every 30 days. This is a discretionary service.

You will receive a statement monthly. You have the choice of either receiving your statement through the U.S. mail, electronically, or both. If you choose to receive your statement electronically, you will be notified by email when it is available. You may choose to simply view it, print it or to download it into your personal money management software. Available formats for Transaction Exporting are Comma Separated File [.CSV], Intuit Quicken [.QIF], Microsoft Money [.OFX], Intuit QuickBooks [.IIF], Intuit Quicken [.QFX], Intuit QuickBooks [.QBO]

Interest Rate is the annual rate of interest paid on an account and does not reflect compounding. Annual Percentage Yield (APY) reflects the total amount of interest paid on an account, based on the interest rate and the frequency of compounding for a 365-day period and calculated according to the rules of the Truth In Savings Act. The APY is normally higher than the Interest Rate because it assumes that all compounded interest credited to an interest bearing account will remain on deposit in that account. The Bank is required to report APY on your monthly statements and to disclose the APY when advertising interest bearing accounts.

The interest rate reported on your monthly statement is the Annual Percentage Yield (APY). Ultimate Rewards Rewards Checking pays the highest APY on the first $10,000 in your account, then a lower (but very competitive) APY on balances over $10,000. Therefore, if you have more than $10,000 in your account, the APY reported will be calculated based on a “blended” rate. The APY on the first $10,000 balance is blended proportionally with the lower APY on the daily balance over $10,000.

The only fee that we charge on debit cards is $.75 per cash withdrawal from an ATM. However, our Ultimate Rewards Rewards Checking Account offers you a refund of the $.75 charges as well as ATM surcharges if you meet the monthly requirements. All VISA® CheckCard transactions are free at merchant locations.

You can call Customer Service at (580) 393-4367 on Monday through Thursday from 8:00 am to 5:00 pm and Friday from 8:00 am to 6:00 pm. You can also use our secure ‘Contact Us’ for online to send us any questions, concerns, or information safely.

Please refer to ‘Locations & Hours’ on our home page for a complete listing of lobby and drive-thru hours for each of our locations. You can check your balance or transfer money into or out of your account(s) online 24/7. If you need to talk to someone about any account questions you can call Customer Service at (580) 393-4367 on Monday through Thursday from 8:00 am to 5:00 pm and Friday from 8:00 am to 6:00 pm or use our secure ‘Contact Us’ form online.

Our mailing address is Southwest State Bank, P.O. Box 610, Sentinel, OK 73664. Our phone number is (580) 393-4367. Customer Service hours are on Monday through Thursday from 8:00 am to 5:00 pm and Friday from 8:00 am to 6:00 pm. We can also be contacted securely through email using our secure online ‘Contact Us’ form.

It’s easy to change your address! After you have logged into Online Banking, you can change your address by clicking on the ‘Settings’ tab and then ‘Contact Information’ on the left menu bar, entering your information into the online form, and clicking ‘Submit Application’. We will contact you to verify you are the account holder and authorized the change of address.

If you do not use Online Banking, please call (580) 393-4367 to notify Customer Service of any changes to your address.